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jersey electricity plc (JEL) Details

Jersey Electricity plc, together with its subsidiaries, engages in the importation, generation, transmission, and distribution of electricity in Jersey. The company generates electricity from diesel engines, boilers, and steam and gas turbines, as well as wind and solar photovoltaic technologies. It also leases out investment properties and other freehold properties under operating leases; and provides property management and building services. In addition, the company offers small works electrical services, heating systems, periodic test and inspection of electrical installations, portable appliance testing, air conditioning/heat pumps, data center/computer room cooling, commercial refrigeration, fire alarm systems, plumbing service and maintenance, multi-fuel heating, amenity lighting, building facilities management, ventilation, multi-service maintenance, and preventative planned maintenance. Further, it provides software development and consulting services; and business consultancy, system design, development, implementation, training, and helpdesk support solutions. Additionally, the company is also involved in the sale of products through its various retail outlets; and online retailing through SportsDirect.com. Jersey Electricity plc also offers environmental design and energy related consultancy services; maintenance services for refrigeration equipment. The company was founded in 1924 and is headquartered in St. Helier, the Channel Islands.

jersey electricity plc (JEL) Key Developments

The Board of Jersey Electricity plc at a meeting on 22 May 2015, approved to declared an interim dividend of 5.25 pence compared to 5.00 pence for 2014. The dividend will be paid on 30 June 2015 to those shareholders registered in the records of the Company on 5 June 2015.
The company reported unaudited consolidated earnings and operating results for the six months ended March 31, 2015. For the period, the company's revenue was £55.840 million compared to £54.954 million a year ago. Group operating profit was £8.727 million compared to £3.125 million a year ago. Profit from operations before taxation was £7.956 million compared to £3.104 million a year ago. Profit from operations after taxation was £6.373 million compared to £2.270 million a year ago. Profit for the period attributable to the equity holders of the parent company was £6.373 million or 20.75 pence per basic and diluted share compared to £2.270 million or 7.36 pence per basic and diluted share a year ago. Net cash flows from operating activities was £9.791 million compared to £7.781 million a year ago. Purchase of property, plant and equipment was £9.160 million compared to £19.920 million a year ago. Investment in intangible assets was £67,000 compared to £51,000 a year ago. Net debt as at March 31, 2015 was £21.9 million compared to £19.5 million as on March 31, 2014.
For the period, the company announced electricity sales of 357,362,000 kWh compared to 353,729,000 kWh a year ago.

Jersey Electricity plc, Board Meeting, May 22, 2015

May 22 15

Jersey Electricity plc, Board Meeting, May 22, 2015. Agenda: To approve the interim management report for the six months ended 31 March 2015; and to declare an interim dividend of 5.25 pence compared to 5.00 pence for 2014.

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